Baker Katz Acquires Retail Property On Bellaire Blvd In Houston For $850,000

The PlazAmericas Mall, an 850,000-square-foot retail property located at 7500 Bellaire Blvd in Houston, TX, 77036, has been acquired by Baker Katz. The mall, formerly known as Sharpstown Mall, sits on 37 acres and is the oldest enclosed mall in Houston. It was built in 1961 and has undergone multiple renovations. At the time of sale, the property was approximately 70 percent occupied, housing tenants such as Champs Sports, TX America Cinemas, and Banana Bay Restaurant & Bar. The Harris County Appraisal District values the mall at $12.2 million. Matthew Berry and Robbie Kilcrease of CBRE facilitated the transaction on behalf of the seller, RAIT Financial Trust.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Buyer: Baker Katz
• Seller: RAIT Financial Trust
• Seller's Representatives: Matthew Berry (CBRE), Robbie Kilcrease (CBRE)

The acquisition of PlazAmericas Mall in Houston was brokered by Matthew Berry and Robbie Kilcrease of CBRE on behalf of the seller, RAIT Financial Trust. Baker Katz, a Houston-based retail firm, has added the 850,000-square-foot property to its portfolio. The mall, previously known as Sharpstown Mall, boasts a long history dating back to its establishment in 1961. Despite being the oldest enclosed mall in the area, PlazAmericas Mall has maintained its appeal through various renovations and a diverse tenant roster.